NASDAQ$HSIC
Henry Schein Inc · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
Henry Schein reported solid financial results for Q3 2023, with total sales growth and non-GAAP diluted EPS growth despite lower PPE and COVID-19 test kit sales. The company is recovering from a recent cybersecurity incident and reaffirms confidence in the stability of dental and medical markets.
Henry Schein reported a 3.1% increase in total net sales, reaching $3.2 billion. GAAP diluted EPS was $1.05, and non-GAAP diluted EPS was $1.32. The company is updating its full-year non-GAAP diluted EPS guidance to $4.43 to $4.71, reflecting softening macroeconomic conditions and the impact of a recent cybersecurity incident.
- Total net sales for the quarter were $3.2 billion, a 3.1% increase year-over-year.
- GAAP net income was $137 million, or $1.05 per diluted share.
- Non-GAAP net income was $173 million, or $1.32 per diluted share.
- Full-year 2023 sales are now expected to be approximately 1% to 3% lower than full-year 2022 sales.
Headline financials
Revenue & EPS history
Henry Schein · Revenue · Quarterly
$3.16B
Revenue by segment
Henry Schein · $3B total across 2 segments · Q3 2023
- Global Dental$1.9B+5.6%63.3%
- Global Medical$1.1B+0.0%36.7%
Forward guidance
Henry Schein updated guidance for full-year 2023, and now expects non-GAAP diluted EPS of $4.43 to $4.71 and full-year 2023 sales are now expected to be approximately 1% to 3% lower than full-year 2022 sales.
Tailwinds
- Distribution businesses are now operational
- Initiating the reactivation of ecommerce platform
- Made significant progress resuming the high levels of service
- Confidence in the stability of the dental and medical markets
- Remain committed to strategic priorities and long-term financial model
Headwinds
- Softening macroeconomic conditions
- An estimated $0.55 to $0.75 per share business interruption impact of the recent cybersecurity incident
- Cybersecurity incident excludes any future insurance claim recovery
- Change in guidance is primarily due to the recent cybersecurity incident
- Unable to provide without unreasonable effort an estimate of integration and restructuring costs
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2023
-0.4%
Avg return
Earnings day
-0.5%
Avg return
5 days after
-0.6%
Avg return
30 days after
45%
31 / 69 earnings
Positive
+11.1%
Q4 2021
Best reaction
-8.5%
Q3 2017
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +3.3% | -1.6% | +4.6% | |
| Q4 2025 | +5.8% | +2.3% | -8.5% | |
| Q3 2025 | +10.9% | +11.2% | +13.5% | |
| Q1 2025 | +2.0% | +5.1% | +7.8% | |
| Q4 2024 | -2.3% | -7.0% | -10.6% | |
| Q3 2024 | -3.2% | -6.0% | +0.2% | |
| Q2 2024 | -5.4% | -0.9% | +0.4% | |
| Q1 2024 | +6.2% | +7.0% | +0.1% | |
| Q4 2023 | -5.1% | -4.6% | -6.3% | |
| Q3 2023 | +7.5% | +7.3% | +15.5% | |
| Q2 2023 | -2.8% | -1.8% | -5.1% | |
| Q1 2023 | -4.5% | -4.2% | -6.1% | |
| Q4 2022 | -6.2% | -7.5% | -12.8% | |
| Q3 2022 | +1.8% | +6.2% | +21.2% | |
| Q2 2022 | -4.9% | -3.8% | -7.3% | |
| Q1 2022 | +7.4% | +6.6% | +5.6% | |
| Q4 2021 | +11.1% | +10.1% | +14.5% | |
| Q3 2021 | +3.0% | +4.5% | -6.7% | |
| Q2 2021 | -4.8% | -5.2% | -2.3% | |
| Q1 2021 | +6.6% | +8.9% | +5.3% | |
| Q4 2020 | -8.5% | -6.5% | -5.3% | |
| Q3 2020 | -5.0% | -3.0% | +4.6% | |
| Q2 2020 | -5.3% | -4.4% | -6.9% | |
| Q1 2020 | +0.4% | +2.9% | +20.6% | |
| Q4 2019 | -8.4% | -14.4% | -38.9% | |
| Q3 2019 | +4.4% | +4.8% | +5.2% | |
| Q2 2019 | -3.2% | -2.3% | -4.2% | |
| Q1 2019 | +8.6% | +8.9% | +8.6% | |
| Q4 2018 | -5.0% | -5.2% | -5.2% | |
| Q3 2018 | +3.1% | +0.8% | +3.3% | |
| Q2 2018 | -0.5% | -3.6% | +0.5% | |
| Q1 2018 | -6.1% | -4.4% | -6.7% | |
| Q4 2017 | -1.2% | -2.1% | -5.2% | |
| Q3 2017 | -8.5% | -13.6% | -13.0% | |
| Q2 2017 | -7.7% | -7.2% | -4.9% | |
| Q1 2017 | +0.6% | +0.3% | +5.2% | |
| Q4 2016 | +2.7% | +3.2% | +2.0% | |
| Q3 2016 | +4.6% | +6.2% | +1.7% | |
| Q2 2016 | -7.1% | -8.4% | -8.6% | |
| Q1 2016 | -2.5% | — | — | |
| Q4 2015 | +7.0% | — | — | |
| Q3 2015 | +1.1% | — | — | |
| Q2 2015 | -1.9% | — | — | |
| Q1 2015 | -0.4% | — | — | |
| Q4 2014 | +0.9% | — | — | |
| Q3 2014 | +5.4% | — | — | |
| Q2 2014 | -1.8% | — | — | |
| Q1 2014 | -1.7% | — | — | |
| Q4 2013 | +0.1% | — | — | |
| Q3 2013 | -2.6% | — | — | |
| Q2 2013 | -0.3% | — | — | |
| Q1 2013 | +2.1% | — | — | |
| Q4 2012 | -2.2% | — | — | |
| Q3 2012 | -0.6% | — | — | |
| Q2 2012 | +1.8% | — | — | |
| Q1 2012 | +2.4% | — | — | |
| Q4 2011 | +3.4% | — | — | |
| Q3 2011 | -6.4% | — | — | |
| Q2 2011 | -2.3% | — | — | |
| Q1 2010 | -2.0% | — | — | |
| Q1 2011 | +0.5% | — | — | |
| Q4 2010 | -3.9% | — | — | |
| Q1 2009 | -3.9% | — | — | |
| Q4 2008 | -3.9% | — | — | |
| Q3 2009 | -4.1% | — | — | |
| Q3 2010 | -4.1% | — | — | |
| Q2 2010 | +2.1% | — | — | |
| Q4 2009 | +2.1% | — | — | |
| Q2 2009 | +2.1% | — | — |
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